You say that you are not focused on the past, but you fail to predict anything about MNKD's newest revenue producers. 

Tyvaso DPI royalties give MNKD new revenues that bring "pure profit" to its bottom line. Not saying that separate joint collaboration fees are not being incurred, but they should be offset later, following the reduction of deferred Tyvaso DPI revenues as finished product is moved to UTHR.

As for V-Go, it is now available through MNKD's nationwide sales force, and it seems to be a useful Type II diabetes product. All JMHO.

Comments, if any? TIA.